Arkansas Venture Center

Nonprofit profile at a glance

EIN
464108871
IRS 990 coverage
2014–2024
Forms available
Form 990 2024, Form 990-N 2013
Location
Little Rock, AR, USA
Phone
5014049875
Rating
50
Verdict
MIXED
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$1,169,192
Expenses
$1,302,039
Assets
$3,985,909
Liabilities
$708,229

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • ARTHUR ORDUNA (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ARTHUR ORDUNA (EXECUTIVE DIRECTOR): $233,020 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The venture center helps startups obtain customer validation & reach viability through systematic programming, premium mentorship that leverages best practices in lean methodology & strategic acceleration with an eye on reaching scale and creating measurable economic impact.

What it reported doing in 2024

The venture center programmed and launched three accelerators during the year. The Arkansas banking solutions accelerator/absa is a continuation of the successful fintech program matching fintech start-ups with banks. The veteran-owned small business accelerator/vosb, in partnership with the Arkansas small business administration, is the second cohort of a training and professional education program helping veterans successfully grow their existing small businesses. The Arkansas lithium technology accelerator/alta, in partnership with major energy producers, is a new program bringing leading lithium ion battery supply chain technology start-up companies to Arkansas, to help build a new lithium economy in support of the nascent lithium mining and refining industry in south Arkansas.

Operating model

Revenue model
Grant-funded. 77% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 25
  • Transparency & Controls: 70
  • Accountability: 63
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 30.5%; rating input score 30
  • Program expense ratio: 24.3%; rating input score 24
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90%; rating input score 90; 23rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -11.4%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 3.06; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 17.9%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 6.5% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 8.7% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 21.3% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 30.5% of revenue deployed · 24.3% of spending went to programs
  • Governance: 9 of 10 board members independent · 2 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $316K in reported program spending
  • Leadership: top reported pay $233K · 10 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 30/100.
  • High — Financial Efficiency: Program expense ratio scored 24/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 15/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.